$1,776,000
Investment Summary
- Monthly Cash Flow
- -$5,728
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.8%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Gulf Front Elegance. Uncompromised. Unforgettable. Where timeless coastal charm meets cutting-edge innovation, 2081 N Pointe Alexis Drive redefines what it means to live well on Florida’s Gulf Coast. Set against an unobstructed canvas of endless water views, this elevated Key West-style home offers a front-row seat to the Gulf of America—and a life of effortless luxury designed for those who expect more. From the moment you arrive, every detail reveals itself with purpose. Elevated construction not only enhances curb appeal but ensures peace of mind. Step through hurricane-rated doors and enter a space flooded with natural light, where panoramic water views stretch across nearly every room. The layout is spacious, open, and intentionally placed on a single living level—seamless, refined, and built for both grand entertaining and quiet retreat. The kitchen is a work of art—rich stunning glazed cream cabinetry, granite countertops, top of the line Kitchen Aid stainless steel appliances, 5-burner (propane) gas cooktop with a statement stainless steel hood, and glass-front uppers glowing with custom LED lighting. It’s not just a place to cook—it’s a place to gather, create, and connect. The primary suite offers a daily escape, with a cozy sitting area overlooking the Gulf of America, a stacked stone gas fireplace for ambiance, and an ensuite bath that rivals any five-star spa. A freestanding tub, seamless glass rain shower, elegant finishes, and four spacious closets create a retreat that’s as functional as it is breathtaking. 7" engineered plank hardwood floors, 5" baseboard molding, knock down cathedral ceilings, (propane) gas burning fireplace, built-in book case with cabinet storage, triple glass-slider that opens onto the wrap around covered deck overlooking the water. Formal dining room French doors with plantation shutters that open onto the covered front veranda overlooks the community pond. In home office with adjacent powder room. Elevator. Intelligent upgrades elevate every moment of your life here. Hurricane-impact windows and garage doors provide protection with style. Silent, side-mounted Bluetooth/Wi-Fi-enabled garage openers add modern convenience. A tankless water heater ensures endless comfort. The integrated smart home security system—with video surveillance, ADT monitoring, and keyless electronic access—keeps everything secure while you focus on what matters most. Entertainment flows effortlessly with built-in surround sound in both the family room and primary suite. Downstairs, a six-car garage opens to a sun-drenched bonus space currently used as a game room—flexible enough for a home gym, game room, man cave, or creative retreat. This home was once chosen by HGTV—not as a fantasy, but because it delivers on every promise of luxury coastal living. But make no mistake: it’s not about what it was, it’s about what it is—an elevated, turn-key masterpiece designed for how you want to live right now. In a gated, amenity-rich waterfront community just minutes from Tarpon Springs’ iconic sponge docks, restaurants, and beaches, this is more than a home—it’s the one you’ve been manifesting. You’re not just buying real estate. You’re stepping into your next chapter. Pointe Alexis community offers resort style amenities, including a junior Olympic-sized pool and heated spa, lighted tennis courts, a Gulf-front gazebo and fishing pier, a clubhouse and playground.
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Location
Property Details
Parking
- Description: Circular Driveway, Garage Door Opener, Oversized, Underground
- Details: Circular Driveway, Driveway, Garage Door Opener, Oversized, Attached
- Garage Spaces: 6
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 8
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Type: Gable
- Roof Material: Shingle
- Pool Community: Yes
HOA
- Has HOA: Yes
- Association: Brooke Greene
- HOA Fee: $330/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 032715723900001550
- Lot Size: 13913 sqft
Property Information
- Property Type: Single Family Residence
- Style: Key West
- Year Built: 1992
Tax Information
- Annual Tax: $16,045
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$5,728
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.8%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $1,776,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,420,800 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $355,200 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $53,280 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $408,480 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,546 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $501 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $2.06 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,420,800 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.625% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $9,098 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,337 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $511 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $10,946 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $7,300 | $87,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$438 | -$5,256 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,862 | $82,344 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 18% | -$1,337 | -$16,045 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$511 | -$6,132 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$584 | -$7,008 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$365 | -$4,380 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$365 | -$4,380 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 5% | -$330 | -$3,960 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 48% | -$3,492 | -$41,905 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $3,370 | $40,440 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$9,098 | -$109,176 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $5,728 | $68,736 |